EQUITY AND MEZZANINE EQUITY (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Conversions of Stock

Centerspace redeemed Units in exchange for common shares in connection with Unitholders exercising their exchange rights during the three months ended March 31, 2022 and 2021 as detailed in the table below.

	(in thousands)
Three Months Ended March 31,	Number of Units	Net Book Basis
2022	10	$	(388)
2021	26	$	(220)

Pursuant to the exercise of exchange rights, the Company redeemed Units for cash during the three months ended March 31, 2022 and 2021 as detailed in the table below.

	(in thousands)
Three Months Ended March 31,	Number of Units	Aggregate Cost		Average Price Per Unit
2022	31	$	2,903	$	93.14
2021	—	$	9	$	71.55

Schedule of Sale of Common Shares

The table below provides details on the sale of common shares during the three months ended March 31, 2022 and 2021 under both the 2019 and 2021 ATM Programs. As of March 31, 2022, common shares having an aggregate offering price of up to $126.6 million remained available under the 2021 ATM Program.

	(in thousands, except per share amounts)
Three Months Ended March 31,	Number of Common Shares	Net Consideration(1)		Average Net Price Per Share
2022	321	$	31,732	$	98.89
2021	164	$	11,859	$	72.19

(1)Total consideration is net of $338 and $181 in commissions and issuance costs during the three months ended March 31, 2022 and 2021, respectively.